Carr Properties Flips West End Bldg. for $166.2 Million, Picks Up Development Site in Capitol Hill

January 12 was a busy day for Carr Properties after the local REIT, along with joint venture partners MetLife and the Canada Pension Plan Investment Board, sold 1255 23rd St. NW in Washington, D.C.’s West End to DivcoWest for $166.2 million, and struck out on its own to acquire a nearly .64-acre development site in Capitol Hill for slightly more than $20.3 million.

Carr, MetLife and CPPIB teamed up in early 2011 to acquire the 340,920-square-foot…